Twin Ridge Capital Acquisition, a blank check company formed by Twin Ridge Capital targeting consumer and distribution, filed on Friday with the SEC to raise up to $200 million in an initial public offering.
The Menlo Park, CA-based company plans to raise $200 million by offering 20 million units at $10. Each unit will consist of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Twin Ridge Capital Acquisition will command a market value of $250 million.
The company is led by Chairman Dale Morrison, who is a Founding Partner of Twin Ridge Capital Management (TRCM) and previously served as CEO of McCain Foods, Campbell Soup Company, and Pepperidge Farm. He is joined by Co-CEO and Director Sanjay Morey, who is also a Founding Partner of TRCM, and Co-CEO, CFO, and Director William Russell, Jr., a Partner at TRCM, which he joined in 2019. Twin Ridge Capital Acquisition intends to focus its search broadly within the consumer and distribution related and adjacent industries.
Twin Ridge Capital Acquisition was founded in 2021 and plans to list on the NYSE under the symbol TRCA.U. Barclays and Evercore ISI are the joint bookrunners on the deal.
